JAMB - Economics (2017 - No. 35)
Goods sold in perfectly competitive markets are generally
homogenous
intermediate and final
durable and non-durable
heterogeneous
Paliwanag
The goods bought and sold in a perfect market must be homogeneous. That is, they must be identical. They must be of same size, shape, weight, colour etc. The goods must be the same in the eye of the customer.